New ICE Platform to Trace Cocoa, Coffee Deforestation From Space
- Service will show if goods comply with EU deforestation rules
- Data from Space Intelligence will spot recently cleared farms
Cocoa and coffee have drawn particular attention because Europe is the biggest market for those goods.
Photographer: Tomas Ayuso/BloombergThis article is for subscribers only.
Intercontinental Exchange Inc. unveiled a new partnership in its race to launch a platform verifying deforestation-free cocoa and coffee before European Union rules take effect at the end of the year.
The exchange’s Commodity Traceability Service will use Space Intelligence’s satellite mapping capabilities to assess whether cocoa- and coffee-growing areas have been deforested after 2020, according to a statement Tuesday. The platform, slated to launch later this year, aims to provide a solution to European Union traceability requirements that have roiled the cocoa and coffee industries.